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Quick Take
The short-term holder realized price (STH RP) is a crucial metric for short-term Bitcoin investors, reflecting the average price at which each coin last transacted on-chain within the past 155 days. This metric acts as the ‘on-chain cost basis’ for recent investors.
In tandem, the short-term holder MVRV ratio (STH MVRV Ratio) compares the market value to the realized value, clearly visualizing this cohort’s unrealized profitability. A value of 2.0 indicates substantial profits, while 1.0 represents a break-even point, and 0.85 indicates a 15% loss.
![Short-Term Holder Realized Price and MVRV: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2024/04/MVRV.png)
Short-Term Holder Realized Price and MVRV: (Source: Glassnode)
CryptoSlate’s analysis highlights the critical role of the STH RP metric as a support level during bull market uptrends. Currently, the STH RP hovers over $58.8k, according to Glassnode, with the price holding above $60,000 during the weekend drop.
The STH MVRistands at 0.11, indicating a slight unrealized profit for short-term holders. Maintaining the price above the STH RP level is crucial, as evidenced during the 2021 bull market when a dip below the STH RP signaled the beginning of a bear market, as identified by CryptoSlate.
Sustaining the STH RP keeps Bitcoin’s market cap comfortably above $1 trillion, underscoring its significance in evaluating Bitcoin market health.
![BTCUSD: (Source: TradingView)](https://cryptoslate.com/wp-content/uploads/2024/04/1.2.png)
BTCUSD: (Source: TradingView)
The post Short-term holder realized price holds steady despite weekend Bitcoin drop, uptrend persists appeared first on CryptoSlate.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.